Two-Unit Duplex with Separate
New
For Sale
$175,000
905 Lewis Avenue, Cameron, WI 54822
ResidentialIncome, Cameron, WI
Property Size2,352 SF
Lot Size0.12 Acres
Price / SF$74.40
Days on Market2
Property Features for 905 Lewis Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential
Rooms
Basement
Parking features
Driveway
Patio and Porch features
Deck
Fireplace
1
Appliances
Dryer, Dishwasher, GasWaterHeater, Oven, Range, Refrigerator, Washer
Elementary school district
Cameron
Middle school district
Cameron
High school district
Cameron
Directions
From Hwy SS go right on W Poplar (jog in Rd) to left on Bolivar to sign on the right. Corner of Lewis & Bolivar.
Standard status
Active
APN
111-1067-32-000
Size
2,352 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PLATS 24-1 & 25-1 LOTS 24 & 25 BLK B EX W 80 FT COVELL'S ADD
Tax Annual Amount
2329
Legal Description
PLATS 24-1 & 25-1 LOTS 24 & 25 BLK B EX W 80 FT COVELL'S ADD
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Building Details
Number of units
2
Building materials
VinylSiding
Listing Agency:
Keller Williams Realty Diversified
(715) 514-4265
Listed By:
Joshua Amys · License #85884-94
(715) 642-0567
Added: Aug 31
Last Checked: Sep 1 at 7:06AM
MLS# 1604520
Copyright © 2026 REALTORS® Association of Northwestern Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex at 905 Lewis Avenue contains 2,352 finished square feet across two leased residences. The lower unit offers 2 bedrooms and 1 bathroom, while the upper unit includes 3 bedrooms and 1 bathroom. Separate utilities, included appliances, newer water heaters, and some updated windows add practical operating and maintenance features. The property also includes a basement, deck, driveway parking, vinyl siding, natural gas forced-air heat, and a fireplace.
Situated on a 0.12-acre corner lot in Cameron, the property is served by public water and public sewer and is within the Cameron School District. Current leases are in place, and the layout provides two distinct residential units within one building.
Situated on a 0.12-acre corner lot in Cameron, the property is served by public water and public sewer and is within the Cameron School District. Current leases are in place, and the layout provides two distinct residential units within one building.
Key Highlights
- 2,352 finished sq ft duplex with two residential units
- Lower unit: 2‑bed/1‑bath; upper unit: 3‑bed/1‑bath
- Current leases and separate utilities
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,400
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$208,000
$208.0K
Cap Rate 7%
$148,571
$148.6K
Cap Rate 9%
$115,556
$115.6K
Market Conditions
NOI Build-Up for 2,352 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$15.8K $6.72/SF
− Vacancy
−$948 −$0.40/SF
EGI
$14.9K $6.32/SF
− OpEx
−$4.5K −$1.90/SF
NOI
$10.4K $4.42/SF
Area
Barron County, WI
Vacancy
6.00%
Lease Rate
$6.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$208,000
Cap Rate 7%
$148,571
Cap Rate 9%
$115,556
Alternative Uses
Best Use
Multifamily LT 5
$148.6K
$130.0K – $173.3K
NOI $10,400 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$139.8K
$122.3K – $163.1K
NOI $9,784 @ 7.0% cap · market cap 5.59%
Theoretical Best
Warehouse
$1.89M
$1.65M – $2.20M
NOI $132,284 @ 7.0% cap · market cap 75.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
182
Businesses Nearby
Explore this area
Business Placement
Demographics for 54822, WI
4,665
Population
2,318
Households
2
Avg Household Size
42
Median Age
23%
College-Educated
89%
High-School Grad
45.6 sq mi
ZIP Area
102
Density / Sq Mi
$66,250
Median Household Income
$37,147
Median Earnings
$954
Median Rent
$223,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Corner-lot property with city utilities, off-street parking, and included appliances.
Where is this duplex located?
The property is located at 905 Lewis Avenue Cameron, WI.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 2,352 finished sq ft duplex with two residential units; Lower unit: 2‑bed/1‑bath; upper unit: 3‑bed/1‑bath; Current leases and separate utilities
